On March 22, The Securities and Exchange Commission (SEC) pressed charges against the cryptocurrency entrepreneur Justin Sun and his companies. The companies mentioned in the document are Tron Foundation Limited, BitTorrent Foundation Ltd., and Rainberry Inc. (previously known as BitTorrent) for selling unregistered crypto asset securities Tronix (TRX), and BitTorrent (BTT). He has been charged with market manipulation through extensive …

The Ethereum co-founder Vitalik Buterin has decided to liquidate his altcoin holdings because it does not have any cultural or moral value. He also thinks that these tokens might result in losing money. He has sold 9.9 billion CULT tokens in exchange for 58 Ethereum. He also sold BITE and MOPS holdings, and the total sales value equals 220 Ether …

SEC chairman Gary Gensler has declared that Ether is security, especially after switching to a Proof-of-Stake mechanism. However, CFTC chairman Rostin Behnam does not agree with him.  According to him, Ether should be considered a commodity. He also thinks that stablecoins should be used as a commodity too. This is in the face of the SEC in the current context …

Silvergate has been facing lawsuits and investigations for a while. Now, the bank is losing its partners, 5 of them have cut ties, Coinbase being one of those parties (according to reports from March 3). The other 4 are Paxos, Gemini, BitStamp, and Galaxy Digital. After Coinbase terminated the partnership, Silvergate decided to look for another banking partner.  Digital Asset …

Visa and MasterCard have decided to halt all their crypto-related services over the current market collapse and regulatory issues. These two giants had partnered with several crypto firms to provide an efficient and seamless purchase experience. Since 2021, Visa alone had partnered with 70 crypto firms, who serve over 80 million merchants globally.  Now they have decided that they would …

The Central Bank of Jordan is planning to introduce retail CBDC and has asked for advice from IMF (International Monetary Fund). The IMF has done three-month research and prepared a feasibility report.  According to this report, the integration has been widely positive, well-integrated, and highly accessible. The report also mentioned that this move would promote financial inclusion without smartphones. It …

Galois Capital, known as one of the world’s largest cryptocurrency-based quantitative hedge funds, has decided to quit its operations. The management has arrived at this decision after losing a sizeable portion during the FTX debacle.  It was announced on Monday through the company’s Twitter account.  According to a report from November, the company had invested $40 million in FTX. According …

YouTube’s new CEO Neal Mohan thinks that NFTs and Web 3 can be important instruments in generating additional revenue for creators.  He took over the reins after Susan Wojcicki departed from the company this week. However, she would remain an advisor to Google’s parent company, Alphabet.  As a chief product officer, he was responsible for removing the dislike button (a …

After securing a license to operate in the Abu Dhabi region less than a year ago, Kraken decided to shut down its offices. According to one spokesperson, the company has decided to focus on digital assets and proceed after due diligence, especially after the FTX bankruptcy.  He also told that the company will reduce its workforce by 30% (1,100 employees), …

MakerDAO, a popular decentralized finance giant, has decided to come up with a lending platform to compete with Aave, named Spark Protocol. For context, Aave is the largest Ethereum-based Defi product, with $4.6 billion in total value locked (TVL).  MakerDAO is known for generating DAI stablecoins, and currently, its token MKR (MakerDAO token) is trading at $7771.85, after it has …